Europe Q1 glycerine rolls over on subdued demand, stable supply

12 January 2011 23:59  [Source: ICIS news]

LONDON (ICIS)--European first-quarter glycerine contracts have rolled over as a result of subdued demand and stable supply, sources said on Wednesday.

The majority of first-quarter contracts for vegetable-grade glycerine remain unchanged from the fourth quarter at €490-520/tonne ($636-675/tonne) FD (free delivered) NWE (northwest Europe) and £430-455/tonne (€516-546/tonne) FD UK.

First-quarter contracts for tallow-grade glycerine contracts also remained unchanged, in a range of €460-480/tonne FD NWE and £400-420/tonne FD UK.

Most market participants said they had expected prices to increase because feedstock prices were higher and there was strong demand from Asia.

Demand in Europe had been quiet, as participants were absent due to the end-of-the-year holidays.

Requests for material from markets in Asia had also decreased because of high prices and the onset of the festive season, which put less strain on the European market.

($1 = €0.77, £1 = €1.20)

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By: Sarah Trinder
+44 20 8652 3214

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